Mingzhu TAI
Dr. Mingzhu TAI
金融学
Assistant Professor

3917 1676

KK 1115

Academic & Professional Qualification
  • Ph.D. in Business Economics, Harvard University
  • Master and Bachelor degrees in Finance, Tsinghua University
Biography

Mingzhu TAI joined HKU after receiving her Ph.D in Business Economics from Harvard University in 2017. Before that she received her Master and Bachelor degrees in Finance from Tsinghua University.

Mingzhu’s research interests mainly include consumer and household finance, financial intermediation and general corporate finance. She is currently working to understand the relationship between banks, real estate markets, financial regulations, and credit activities by consumers and businesses.

Research Interest
  • Consumer and household finance
  • Financial intermediation
  • Corporate finance
  • Behavioral finance
Selected Publications
  • “How Did Depositors Respond to COVID-19?”, with Ross Levine, Chen Lin, and Wensi Xie, The Review of Financial Studies, 2021, 34(11), 5438-5473.
  • “Paying for Beta: Leverage Demand and Asset Management Fees”, with Steffen Hitzemann and Stanislav Sokolinski, Journal of Financial Economics, 2022, 145(1), 105-128.
Recent Publications
Future Anxiety – How COVID-19 Led People to Save More Money

Take the recent study by Chen Lin and Mingzhu Tai from the HKU Business School, conducted with collaborators from the University of California, Berkeley and the Chinese University of Hong Kong. Their paper addressed a fundamental worry for almost everyone during the pandemic: Money. Specifically, they examined how people in the U.S. saved money in response to COVID-19.

存款人如何应对2019冠状病毒病?

为什么在疫情期间会有大量存款汇入银行?我们发现,银行分行若位于2019冠状病毒病感染率较高的地区,它们的存款利率较位于感染率较低的地区的银行分行(即便是隶属同一家银行集团)为低。信贷提取、国家政策(如薪资保护计划)以及避险措施并非导致这些银行分行之间出现存款利率变化的原因。证据显示,2019冠状病毒病感染率较高的地区与当地民众对其就业前景和收入减少的焦虑有连带关系,导致民众减少支出和增加银行存款。